G0ldfinger

From here: http://www.housepricecrash.co.uk/forum/ind...t&p=1018500 Credit Crunch 33AD

Oh boy. My pension fund is surely full of this stuff.

This is good!

http://www.bloomberg.com/apps/news?pid=206...&refer=home Another delusionist bites the dust. This is the fate I foresee for John "gold will crash" Nadler.

Say, on a Monday morning you wake up, and the stake of $1bn you owned in an investment bank has just been revalued at $12million. Unfortunately, you have just bought this appartment for $50million (after all, you have until Sunday night been a billionaire) with a really good super-jumbo mortgage deal. However, your mortgage bank has read the news as well and you receive a margin call. You have no income, since you're retired. Your equity is minus $38million, you get repossessed and go bankrupt. You'll be seen collecting cans & tins on Wall Street briefly afterwards.

You have basically traded the market and therefore have been screwed over by it. You shouldn't do that. Buy on the dips (or otherwise) and hold. Anything else could end in tears. And buy physical. Much more difficult to part with it. Volatility will further increase.

Is this the next big one to go to the wall? http://www.bloomberg.com/apps/news?pid=206...&refer=home

A Bear Stearns employee? (Actually a NY trader, according to DER SPIEGEL.)

They try to push it below $1,000, but it seems difficult.

Looks like another turd is approaching the cliff.

People throwing the kitchen sink at gold again. 3% up and down a day, not too bad.

What we see in gold today is extremely bullish. First a gigantic upsurge, than a huge slam, but firm support at $1,000! And now a rebounce to over $1010.10 already. The Shorterz might have a hard time today.

The Dow is up. Very good. ;)

http://www.telegraph.co.uk/money/main.jhtm...7/ccview117.xml

Listen to the Jim Rogers interview on Bloomberg. My personal highlight: "The Federal Reserve is using taxpayer money to buy a bunch of Bear Stearns traders Maseratis." Spot on! EDIT: Towards the end he predicts that the Fed will fail, like the two first central banks of the US over 100 years ago have failed.

Fair enough. I still hold my target for $25-$30 over the next few months. See also: http://gold.approximity.com/gold-silver_watch.html

http://www.bloomberg.com/apps/news?pid=206...&refer=home Good to know what Moody thinks.

Bloomberg is sorta kinda dead.

If you're a big buyer and late to this market, days like today are perfect for you. You just buy ALL when offers fall below a certain level. If I was China, I would buy UNLIMITED at a level of, say, $800. Which does not mean I wouldn't buy now as well. The better I can hide my buying, the better for my exports. They must love days like today.

Ask yourself whether the fundamentals are still in place. If so, are you happy with the amount you have in it, or not? If yes, then keep it. I can assure you I just 'lost' quite a bit too. But I don't care, it will go higher at some stage. I am holding physical silver, and I am very happy with it. I am planning on buying more in the form of scrap coins.

Aye.

I love it! (And just 'lost' shed loads when measured in USD. )

Couldn't agree more. Now that the banking system collapse becomes more evident, they need to make gold look less strong. But they seem to have a problem pushing it below $1,000. Oh well, they will have another go at it.

The Cartel/PPT really had a go at it. Dude, gold suddenly looks cheap at $1,000. I need to buy more.

Agreed. If he was leveraged, his net worth might now be a substantial negative sum.